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Meaning of a clause in residential property agreement
10-Sep-2023 (In Property Law)
"The Promoter shall give possession of the said Apartment to the Allottee/s on or before. 30November-2019 The Promoter also confirms that it will complete the project / phase relating to completion of Plot C on or before 28-February-2021. If the Promoter fails or neglects to give possession of the Apartment to the Allottee/s on account of reasons beyond his control and of his agents by the aforesaid date i.e. 31-May-2020 then the Promoter shall be liable on demand to refund to the Allottee/s the amounts already received by him in respect of the Apartment with interest at the same rate as specified in the rules under RERA read with the rules, herein above from the date the Promoter received the sum till the date the amounts and interest thereon is repaid." On RERA, committed date of completion for the entire phase is Feb 2021. I am trying to understand if date mentioned in agreement holds above the date mentioned in RERA and will the builder be liable for compensation post 30th Nov 19.
As per your detail query:
The Promoter shall give possession of the said Apartment to the Allottee/s on or before. 30November-2019 The Promoter also confirms that it will complete the project / phase relating to completion of Plot C on or before 28-February-2021. If the Promoter fails or neglects to give possession of the Apartment to the Allottee/s on account of reasons beyond his control and of his agents by the aforesaid date i.e. 31-May-2020 then the Promoter shall be liable on demand to refund to the Allottee/s the amounts already received by him in respect of the Apartment with interest at the same rate as specified in the rules under RERA read with the rules, herein above from the date the Promoter received the sum till the date the amounts and interest thereon is repaid." On RERA, committed date of completion for the entire phase is Feb 2021. I am trying to understand if date mentioned in agreement holds above the date mentioned in RERA and will the builder be liable for compensation post 30th Nov 19.
Yes builder is liable for compensation as per new law.. Little to pay rent amount of flat.
Thank you
The Promoter shall give possession of the said Apartment to the Allottee/s on or before. 30November-2019 The Promoter also confirms that it will complete the project / phase relating to completion of Plot C on or before 28-February-2021. If the Promoter fails or neglects to give possession of the Apartment to the Allottee/s on account of reasons beyond his control and of his agents by the aforesaid date i.e. 31-May-2020 then the Promoter shall be liable on demand to refund to the Allottee/s the amounts already received by him in respect of the Apartment with interest at the same rate as specified in the rules under RERA read with the rules, herein above from the date the Promoter received the sum till the date the amounts and interest thereon is repaid." On RERA, committed date of completion for the entire phase is Feb 2021. I am trying to understand if date mentioned in agreement holds above the date mentioned in RERA and will the builder be liable for compensation post 30th Nov 19.
Yes builder is liable for compensation as per new law.. Little to pay rent amount of flat.
Thank you
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